Concerned about your investment in Sophiris Bio, Inc.?
Are you concerned about your investment losses in Sophiris Bio, Inc.? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
According to a press release on May 18, 2020, Sophiris Bio Inc. (OTCQB: SPHS) announced that its board of directors has formally approved an immediate shutdown of the operations of the Company. The Company had reportedly been unable to find a partner or raise capital to support the continued development of topsalysin in either benign prostatic hyperplasia or localized prostate cancer.
The company filed a form D to raise capital from investors in 2019, according to filings with the SEC. The total offering amount sold was purportedly $5,066,667.
Filing a Complaint against your Brokerage Firm
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly recommending high-risk investments to investors.
The problem with pharmaceutical and biotech investments such as Sophiris Bio Inc.is that they typically involve a high degree of risk. The research and development process for pharma companies often involves costly and lengthy testing trials that yield specific data. If the expected data or end points are not met, that could be bad news for investors.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Firms that fail to do so, may be held responsible for any losses in a FINRA arbitration claim.
If you have concerns regarding investment losses in Sophiris Bio, Inc., please call the securities attorneys at The White Law Group for a free consultation at 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.